Do you wish that you had a little extra money in your bank account going into the holidays? Good news—opting to drive an electric vehicle could also help you save money.
Based on fueling costs alone, the average EV driver is expected to save between $800 and $1,000 per year over those operating a gas-powered car for their daily commutes. Read on to find out how else you can save big through investing in an electric vehicle for yourself and your loved ones this holiday season.
Driving an Electric Vehicle Comes with Lowered Maintenance Costs.
All-electric vehicles require very little maintenance compared to gas-powered ones. With fewer moving parts, EVs are far more reliable in the long-term and require fewer repairs than almost all other cars currently on the market.
To put it into perspective, the average car powered by gas that can be purchased today has roughly 2,000 moving parts--all of which have the potential to break, malfunction, or fail while out on the road. This not only can be dangerous, but incredibly expensive (we're talking thousands of dollars per year). To compare, the average electric vehicle in the United States only has 20 moving parts.
Regenerative braking--which is available to electric vehicle drivers--is also easier on your car brakes and can extend your range with appropriate use. This means you can take longer to replace your brake pads without issue. This alone saves you money during the lifetime of your vehicle.
Rebates, rebates, rebates!
Electric Vehicle drivers are also entitled to state and local rebates upon purchase. Most states offer these to residents depending on the make, model, and year of their vehicle.
What is a "EV rebate" you ask? Well, it's a large sum of cash offered to consumers simply for choosing an EV over a gas-powered car! States, non-profits, and energy companies want to reward those taking active steps towards sparking positive change, so they have monetary incentives in place to offer those who are doing just that.
To see a list state-by-state of what rebates might be available to you, click here.
Overall, EV drivers can expect to spend one-third the amount of money on car repairs, and can grow a savings account for a more sustainable future.
Of the current electric vehicle drivers in the United States, 9 in 10 report that EV reliability and the savings that come with EV-ownership are the top reasons they plan to buy EVs again in the future. Due to their simple single-gear transmissions, EVs have fewer moving parts overall, which leads to lowered annual repair costs.
EV drivers can cruise with ease knowing that with their investment in a more sustainable future, savings will continue to benefit them going into the hectic Holiday season. Switch to an electric vehicle to help grow a personal savings account as a holiday gift to yourself that keeps on giving!